The Bank of England Monetary Policy Committee announced on 23 March 2023 to increase the Bank of England base rate to 4.25% from 4%.
HMRC interest rates are linked to the Bank of England base rate.
As a consequence of the change in the base rate, HMRC interest rates for late payment and repayment will increase.
These changes will come into effect on:
- 3 April 2023 for quarterly instalment payments
- 13 April 2023 for non-quarterly instalments payments
For further information please select the following link HMRC late payment interest rates to be revised after Bank of England increases base rate - GOV.UK (www.gov.uk)
Managing your finances
A vital part of running a successful business is looking after your finances. For further information please select the following link Managing your finances | Business Wales (gov.wales)
Understanding your finances
On completion of this course Course: Understanding Your Finances (gov.wales) you will be able to:
- Recognise the different types of costs in running your business.
- Identify simple mechanisms for controlling fixed and variable costs.
- Calculate the costs of producing your product or service.
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